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The Swedish auto maker Volvo Auto would be launching its two ‘green concept’ cars globally by 2015. A report in Business Standard quoted Volvo Auto India managing director Tomas Ernberg as saying the concept cars ‘U’ (sedan) and ‘Universe’ (S-class) would be equipped with online communication technologies.

He was quoted as saying “These cars will have online features like live streaming of videos and technologies wherein cars talk to each other.” He also mentioned that India was one of the fastest growing markets for Volvo in terms of premium cars, and that “the prospects are fantastic”, he said the company was looking at cornering a 10 per market share in the segment by 2020, when the domestic premium car market reaches 150,000 units a year.Volvo, which launched its XC90 and XC60 sports utility vehicles (SUVs) in India last year, garnering a market share of 0.5 per cent, is aiming at a 2 per cent pie of the premium car market this year, which is estimated to touch 20,000-25,000 units. He also said ``The sole objective of making cars locally is to bring down costs. We are already competitively-priced and hence we have no intentions to set up car manufacturing base here.’’

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